Mortgage Crisis Creates Demand for Mobile Homes

Park Model News: Mortgage Crisis Creates Demand for Mobile Homes

By Inggrid Yonata

Posted: Sep 8, 2008 04:24 PM MST

Updated: Sep 15, 2008 04:11 PM MST

ROCKFORD -  While the mortgage industry gets a bail out, many people who lost their homes due to foreclosures find a cheaper way to keep a roof over their heads.

As it turns out, there's a rising demand for mobile or manufactured homes in Rockford. The slumping economy is a reason why there's a huge demand for mobile homes.  A lot of these homes belong to people who couldn't keep up with their mortgage payments. For them manufactured homes are places where those buyers can afford to rebuild their lives.

The weak economy forced many people out of their jobs and homes.  Jaynie Robinson is one of the many who lost her home to foreclosure.  Jaynie says living in manufactured housing is the only way she can make ends meet. "I couldn't live anywhere else and have what I have for the price that I pay," she said.

A manufactured home can cost between $15,000 and $62,000. For Father Tom Lamb, a retired pastor who recently moved into Mancuso Mobile Home park, it makes complete sense. "You add those figures and you got to be out of your mind to not live in a mobile home," he said.

Managers of manufactured homes in Rockford say if anything, the housing crisis gave their businesses a big boost. David Ruble, Manager of Gem Suburban, said, "It's helped our business." Linda Krause, Manager of Mancuso Mobile Home Sales agreed. She says, "Manufactured housing is the way to go," and believes that the company will do well in it.

Several other mobile home park managers said they are in full capacity and still getting a lot of calls from people looking into renting these homes.

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